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USD/CAD Soars After Saudi Arabia Freezes Trade With Canada
The Canadian Dollar started Monday’s trading session sharply lower against its US counterpart after news of Saudi Arabia expelling the Canadian ambassador crossed wires. The Saudi Press Agency, the nation’s official news outlet, also announced that the country would freeze all new trade and investment deals with Canada. This move comes after Canadian Foreign Minister Chrystia Freeland urged Saudi authorities over Twitter to release human rights activists from prison. However, the currency pair’s upside momentum reversed throughout the Asia/Pacific trading hours. Negative impacts of the Saudi Arabian investment ... (full story)